MATRIX BUYS 55 PC STAKE IN CONCORD BIOTECH

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Pharmaceutical company Matrix Laboratories Ltd today said it has acquired 55 per cent stake in biotechnology company Concord Biotech Ltd for an undisclosed sum as part of its strategy to acquire fermentation technology and manufacturing capabilities. Hyderabad-based Matrix said the acquisition of a controlling stake of 55 per cent was aimed at adding to its technology and manufacturing strengths to utilise the market potential of the fermentation technology-based products of Concord, by leveraging its strong customer base and marketing strengths in the global generic markets.

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